Russian ministry hopes to extend federal agribusiness exports project to 2030

CHELYABINSK. Sept 28 (Interfax) - Russia's Agriculture Ministry expects that the federal project to support agribusiness exports, which expires in 2024, will be extended until 2030, an advisor to the agriculture minister, Andrei Sukharev said on Wednesday.

"Of course, we are counting on the extension of measures to support exports until 2030, because we need to strengthen the foundation [that we have]. But at the same time, amid budget constraints, we need to optimize support measures. Accordingly, target them on priority areas and types of products," Sukharev said at the plenary meeting of the eleventh interregional agribusiness exhibition of the Ural Federal District in Chelyabinsk.

He said Russia needs to reinforce its positions on foreign markets in which it already has a presence, which will ensure the stable and quality growth of the agriculture sector.

Sukharev told Interfax that the ministry will prepare proposals to both maintain existing state support measures and introduce new ones.

He recalled that changes have already been made to the procedure for subsidizing transportation of agricultural products. This has made it possible to increase the share of reimbursed expenses on shipping products to the poorest countries, as well as on priority types of products.

In the time the project has been implemented, Russian agribusiness exports grew to $41.6 billion in 2022 from $25.8 billion in 2018, according to previously reported data from the Agroexport Center.